I got this. The dang thing is 2MB - that's right, 2MB. This is barely bigger than a floppy disk! I'm still holding out hope that if I erase and format it might be larger. On the plus side, in addition to being free, it includes a short 3 foot USB extension cable. These are always handy. It also includes a nice little cable for hanging around your neck, not that you are going to waste this on a puny 2MB drive.
The drive comes "pre-loaded" with some stuff about IBM Tivoli, whatever the heck that is.
I just tried and I can't seem to format the key drive. It seems to think it is actually a CD disk, and thus not eraseable. It does have an unlock/lock switch, but that doesn't seem to help with formatting or erasing. Oh well, the USB extension cable will get use. I'm not going to argue with "free."